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, 1666. okay. . and global news, average home prices in china's 100 biggest cities was 1% in january from december. and it marks the eighth consecutive marketing rise. two other surveys show growth was weak and the economists caution the country could set a tradeback if trade or government weaken. >> we're here for a lot of reasons, but one thing we need to talk about for an advertising, guys, is there anything better to tuz on than the super bowl? >> no. and it's gotten more important. ite become the academy awards of advertising. first of all, viewership is up. about 111 million people will watch it. crisis is up more than 7%. >> more people watch the laugh time or the gain 12347. >> yes. >> i always thought that was when everybody went to the bathroom. >>. >> you go to the kitchen, you get a drink, you do all sorts of things during halftime. >> $3.75 million for a 30-second spot. people have paid over $4 million. price of ads is up 60% over the last decade. they're also sold out almost a half a billion dollars of ads spend for this super bowl. there will be about 78 advertisers. and i
professional life. he'll also talk a little bit of time at citi. that's been controversial, as you guys have pointed out. the question to a lot of lawmakers is, what exactly did jack lew while he worked at citi for the money he collected. he'll describe himself as a changed agent inside citi. he doesn't mention at all in the prepared remarks anything about this fund that he invested in, that was based in the cayman islands. that's likely to be controversial. we're likely to hear several questions about that one. david, the prepared testimony is one thing, but when then get to the q&a, they'll bear down on what jack lew has to say. carl. >> eamon, there's some discussion how his grilling might be a little bit light, only because republicans haven't really coalesced around a whole lot of opposition. >> yeah, i think the consensus is, they might bang him up a little bit in the hearing. but the expectation is he'll get through and the president will get his man. jack lew has been scrutinized in the past for a variety of jobs. he's a well-known figure here in washington. a lot of republicans don'
threatening situation. already, national weather service posted blizzard warnings from new york city to hartford, boston, up to portland, maine. this is going to be a big storm. it is starting off as two storms. one to the north, one to the south here. they're going to come together, one with the cold air, one with a lot of moisture and develop, really get cranking during the day, into the evening on friday, this is how it plays out. not quite together yet and then in the evening, things are really going to go downhill. heavy snow, this does include new york city, 95 to boston. the storm now as one overnight friday into saturday. and it's still going to be hanging in there saturday evening for parts of new england. when it's all said and done, so than two feet of snow. and it's possible new york city and long island, foot, maria, maybe a foot and a half. >> all right, chris. thank you so much. we have to gear up for that. appreciate that. my thoughts on a potential trouble spot for the markets. that's next in observation. stay with us. with fidelity's new options platform, we've comp
of resources. when you need a lot of resources to move all those 400,000 people to the city. >> a couple of headlines from the new york stock exchange. regarding winter storm, they say they do expect business as usual. this is according to a spokesperson. keeping member firms and traders informed of the weather reports. remember, we had some issues during sandy, obviously, where the exchange had to work mightily to open. it says it has contingency plans in effect. the surge they're talking here in new york is three to five feet. sandy was 13 feet. >> far different. >> ostensibly under a lot less pressure, but you never know what the storm's going to bring. >> up in the boston area, i believe it could be more significant. and again, with the high tides, highest tide of the month, what time will the surge be. i know there's a lot of focus on that. >> people should listen to the safety. >> watching shares of linkedin today. all new-time highs. blowing past expectations with its earnings. revenues up 81%. mostly coming from linkedin's recruitment services. stocks up almost 80% in the last 12
is on that frightening case. jane? >> hey, tyler. even when you're nickname is sin city, murder can be bad for business. is las vegas suffering at all from a high profile triple murder? we'll have that after the break. t that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. through mercedes-benz i've always kept my eye on her... but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for addressing my health risks. but she's still going to give me a heart attack. that's health in numbers. unitedhealthcare. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the ais
's revenue sharing, it is economic development for the areas, the communities and cities where we operate, so it's not just about baseball teams. we continue to do well. >> thank you so much for joining us. a great pleasure having you on. >> likewise. >> linda alvarado, alvarado construction. >>> a sneak peek in the green room, packed this morning. they regularly talk on conference calls with the white house, consulting with the president on issues of vital economic performance. today, they consult with you our viewer on "squawk box." at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expenses? aflac. like his rent and car payments? aflac. what about gas and groceries? aflac. cell phone? aflac, but i doubt he'll be using his phone for quite a while cause like i said, he has a fractured beak. [ male announcer ] send the aflac duck a get-well card at getwellduck.com. ♪ ♪ ♪ ♪
to fail, the sequester and how he missed the crisis at citi. >>> is it time to say good-bye to the u.s. airways brands? a deal looks close for amr's american to take it over, become the number one brand. does consolidation mean airlines just got more attractive. >>> we start off with the retailers, january report card, macy's posting an 11.7% jump in same-store saturday and raising guidance. stellar results from some of the retailers. >> such a mixed picture. some guys -- kohl's, people decided their clearance is moving the stock up nicely. gap strong happens moved. consistently great job. people talking about urban outfitters doing a great job, doesn't seem like the stocks right now are moving the way you would think they would. i don't know how many people are counting on this particular month -- >> a short month, bleedover from the holidays. the rate of beats, 59% is the strongest since august, which was 86%, thanks to mkm partners. the number of them that have outpaced expectations is pretty big, relative to everything else. >> this is historically the one month i don't care abou
in boston. many cities are telling residents, don't travel if you don't have to. airlines are now warning the blizzard could cripple travel and hundreds of flights have already been canceled. we're going to check in one on friends at the weather channel. just a couple of minutes for their latest forecast. also in the news, the justice department in multiple states reportedly discussing suing moody's for defrauding investors. any move likely to make a similar rival against standard & poors is testing likely so this likely to be more than two years out. the goal is to get more battle on potentially hazard just flights, so these flights will only happens. now let's head across the country to joe and becky and see what they have coming up this morning. joe, how was your week on the course? >> yeah, i had only one day in the tournament and it was one of those days that i'm used to out here. >> it was beautiful weather. >> it was beautiful weather and i hit a lot of different kinds of shots. when a professional golfer says that, they mean they intentionally hit a a lot of different kinds of sho
. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> here is a real sizzle story. facebook billionaire mark zuckerberg is hosting his first political fund-raiser tonight. guess who it's for? new jersey governor chris christie, out of the left coast with all of those silicon valley folks. who would have thunk it. julia is live outside his house. >> good evening. the security is already tight. we have helicopters overhead. everyone is getting ready for the big event when zuckerberg invites his friends to meet chris christie. christie is raising his profile as a bipartisan leader ahead of his 2016 prospective run for president. this led tozuckerberg's $100 million education grant, which he announced on oprah. >> the main thing that i have to do is find people who are going to be really great leaders and invest in them. that's what we're doing here. we're setting up a $100 million challenge grant. >> zuckerberg has been doubling down on education philanthropy since then. he and his wife donated 18 million facebook shares to th
york city start with rain as we have two systems. one, a clipper across the midwest bringing detroit and michigan some snow but also the southern snow giving south some rain. they will come together an form a new storm, a nor'easter off-shore. as they do so we will plenty of wind, rain and snow and both storms mean business. let's put this in motion by friday evening. plenty of wind and rain and some wind gusts, 40, 50 miles per hour and some models that say these could be stronger than that. it is not just friday and friday night. new york city might start with rain. but crashing over hard to snow and the snow does not stop until sometime saturday for you. and this is slowing down into sunday. so saturday and sunday of additional snow. especially for new england. the bull's eye is here, so people are out of it. say philly, d.c. were you're out of this system in terms of heavy snow where the bull's eye is is the boston area. if we get behind the low side, that might be a foot of snow in boston. worst case scenario, perhaps three times that amount in the areas in and north and west of
failure. he was 88 years old. koch led new york city for 12 years, known for saving the city from financial ruin. michael bloomberg saying in a statement the city has lost an icon. a cheerleader, champion, 5,000-word oh bit in the "times" today, words like pugnacious, tenacious, outspoken. david, you know his story pretty well. he really did set the stage for giuliani to change the city. >> yeah, he was the consummate new yorker. of course, living in his apartment not far from here, in greenwich village for so many years. not everybody in the community, but many would say, our mayor. when he came into the office in '78, the city was at or near its nader. i can remember it well at that time, of course. and we did grow a great deal under his mayorality. not without some scandal, but certainly with a great deal of enthusiasm. in many ways he brought the spirit back and made you feel good about being a new yorker. which is not easy to do, when you had lived through the '70s. >> he passes on a day where a new biography, a film biography of him opens. something somebody said is the koch
private partnership in the cayman islands. he happened to invest in partnerships when he was at citi, and they happened to be based there. >> in romney's case he set them up down there? >> no, he didn't. i was not making -- i never made the cayman islands argument to you ever. >> oh! about romney? >> i never did. go back and check the tapes. never. >> i don't think he ever did. >> i think -- >> i don't think he did. >> in general, just the whole perception. now al gore's got more money, a lot more money than romney, as you know. you think that's in the cayman islands? >> he's not filthy rich. no, that's somewhere safe, the lea -- the middle east. >> as the ocean washes across the country, it's safe, probably in gold. >>> in the markets, the futures are fight slightly higher. yesterday the dow was up by 47 point. the s&p up by two. as patty dawn points out, the nasdaq has been the big issue. it was actually down yesterday by five points. it has not closed above the 3,200 level that so many had been watching closely. some say in order to see the s&p 500 and the dow break out to new hig
with their foams and cameras that showed the bags in question, the tent city in question. people who had a room with an actual window were much happier. we interviewed some of those folks last night. it wasn't as hot or smelly in their room. they were probably on an upper deck, so depending on where you were on the boat, as always. 100 buses were waiting last night to either new orleans or to galveston, which is where the boat originally disembarked from. there's going be about a dozen charter flights today by delta to get everybody home. back to you guys. >> all right, mcc, thank you. we want to hear from you, if not on a cruise ship, where would you rather be stuck? what would a better place to be rather than on a cruise ship? >> how about right here at work? >> right here at work? >> filling in for andrew ross sorkin. >> filling in for andrew ross sorkin. it smells fine in here right now. you showered this morning? i did, too. it's friday. so i did, as well. it's underwear change day, shower day, everything else. >> once a week you shower? >> is that tmi? no, no. when we were out in pebble,
. >> maybe somebody heard something with regard to a banker, some banker was going that city. putting two and two together. making a good bet. not based on actual knowledge but a bet that a lot of people follow that. they cash in, suddenly there's the huge action in the options. sec's right to look at it. they can put people other oath. people want to testify -- here's what i saw, what i did. the evidence that people are trading ahead of the deal is not evidence that they knew it was going happen. they figured it out. >> let me throw one other piece of news -- >> the -- at the monsanto -- >> i used to track plans. you can't do it anymore. very hard to track plans. >> get out on a moped and follow sir larns wiwrence wildman -- >> i believe that's legal as long as you're not tapping lines. >> it eerie. >> dell, they had earnings. i don't think new england care good the earnings, they --in cared about the earnings, they cared about the buyout. >> i think it's sad and public shareholders take a longer term view is the only reason this company is going private is because michael dell and silve
.s. home prices continued to rise through december of last year. the ten-city composite up 5.9%. the 20-city composite up 6.8%. david blitzer is the chairman of the s&p 500 index committee. david, welcome back. good morning. >> good morning. >> pretty good numbers to close out the year. people still trying to get their arms around how distressed properties are moving some of these prices, especially in key markets. >> that's right. i think the overall picture is very, very strong. the national index, which is up 7.3% for the four quarters, ended with the end of 2012. so really, all across the country things look good. only one city of all 20 was down on the year-over-year basis. >> still, though, i'm told the index is heavily skewed by the share of distressed. that's why atlanta could be down 17%. and now up 10% year-over-year. are these numbers, are they reflective of what's happening with real buyers? >> yes, i think they are reflective of what's actually happening with real buyers. what we've seen in city after city over the last couple of years is the city will get hit with a wave o
. the cold is what's moving in here. dangerous windchills, 15 the below sfee row in the twin citys, 1 is in chicago and 13 in indianapolis. lots of layers for all the kids who are going back to school today. then we catch our next storm, this little pin wheel around the oregon coast. this will dive down around california today and is be a pretty big snowmaker. coast to coast, 6 to 12 inches in the snowfall mountains. plenty of snow here around the wasatch. these amounts in the appalachians, on the order of 1 to 3 inches today 37 back to you guys. >> beck can he can't believe what she just heard about that cold weather. eric, they're melg me, you didn't know it was 25 degrees. >> it's warmed up in minneapolis since earlier today. >> such balmy weather. >> it's like, i've known this, right? >> we're here to educate. >> eric, i rely on the weather channel. tell us something, andrew -- >> he did. he just told me it's 2:22 in nairobi. >> you need singapore time? >> you know what else? the clock when you put them all in, andrew, am i right? if it's nice, the clocks are dark. if it's daytime
city, in is a tricky forecast for you. you're right on the line. we know it's going to snow. the question is, how much is it going to snow. we've got you in the 6 to 12 inch range right now. that would be the biggest storm of the year so far. northern new jersey, some big snow totals and in lesser amounts if you move south and west. don't think you're going to have to go very far to get into the north or east to get into the bigger snow totals. poughkeepsie, eastern long island, things will be significantly worse than we see in the city itself. timing there is late tomorrow and into tomorrow night. you see amounts tapering off as you head farther south and west. the idea here is that a lot of people see a foot of snow. some people say two feet of snow. maybe in a few spots in and around boston we could see three feet of snowfall out of this one. your top five snowstorms, the biggest, presidents' day in 2003. some model res saying we may beat that total in boston. not written in stone, but these are ones that everybody remembers. we stop that, that indeed will be something to
of america's biggest cities. siemens. answers. >>> only 25 minutes before tim cook addresses the goldman sachs technology conference. we'll break down what we can expect to hear from cook and what does it mean for apple stock today. great to see you. >> hello. >> what are you expecting to hear from cook today? >> yes. he's going to speak at the conference and we don't think he'll get into too much details over there. at this point, where the stock is, we think he'll address two things. strategy and products. they said they're actively looking at the cash balance. we expect them to increase dividends and have more buybacks. we think he's not going to get into details, but they're going to indicate their willingness to do that. on new products, they'll definitely talk about new products before the actual launch. but i think he's going to talk about the confidence in the new product pipeline. >> do you think that tim cook's playbook will change a little bit, given the pressure that he might be feeling from shareholders, like a david einhorn? and the focus that apple's been under, and the sc
of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> happy valentine's day. americans will spend $18.6 billion to express their love. men tend to spend more, $176, while females spend on average $89. wow. big business. joining us know is the owner of rennie and reed forest. reed and angus, hello and welcome to you both. happy valentine's day, i should say. reed, how big a day is it for you and what are some of the more unusual requests you tend to get? >> it's a big day. whether it's the weather or whether it's clientele, we had an order yesterday for a 1,000 rose arrangement, which we'll be sending out first thing this morning. this is an individual we see a couple times throughout the last three years and it keeps us on our toes. >> i see you have the low ask lush. i thought that was something that happens at the end of valentine's day. apparently it's a mixed floral. it's popular. are guys any good at this, reed? how much are they spending on average this year compared to five years ago? >> guys are good at it because their hear
happened here. let me give you one example of what citi wrote, for example. shock waves across the market. this is what happens when the worst case comes through. high political uncertainty is negative for investments in italy. so this is quite bad. remember, this is a parliamentary system. so even though someone yesterday got the most votes, they didn't win. that is luigi bersani. berlusconi and grillo got a lot more votes than anyone expected. that's what led to gridlock and so no one is in control. silvio berlusconi, sounding exhausted, called into one of his networks this morning to chat with the news anchors there. first of all, he doesn't think there should be new elections, which is a possibility. when he was asked about interest rates rising in italy, he said, don't worry about interest rates. they are an invention. the markets are a little bit independent and a little bit crazy. and the fact that the spread is widening compared to german interest rates, why do we have to compare ourselves to the germans all the time? we don't have to. he hinted to a coalition with the left. he di
to offer online betting. this bill means that online playing of any game offered by atlantic city's 12 casinos is out there. so bets can't be placed until the state division of gaming enforcement actually sets a start date. casinos say that it could take stockton 12 months to get ready. with all the stories you heard about atlantic city, they could probably use an advantage, some sort of help to get people back in their dorms. >>> we go -- back in their doors. >>> from gambling to beer. class-action lawsuits accusing anheuser-busch of watering down its brands. the suits claim that consumers have been cheated out of the alcohol con stated on levels. this is only 3-2 -- >> some have supposed to have 5%, some are supposed to have 4%. apparently there's some ex-employees who have come forward. >> right. >> suggest that -- >> whistle blowers say they know they were intentionally watering stuff down which is crazy. the beer lovers in the suit are seeking millions in damages for all the alcohol that they missed out on. the lawsuits are based on information again, as andrew said, from former e
. it's really a tale of two cities, right? you've got the market feeling great from the get-go, mutual fund inflows. you feel the market wanted to go higher in january. it carried over a little bit into february. but there's been no follow-through really on the volume. and the other metrics you would look at. a little better on options. so it's interesting. now the question is, do things like sequestration and what's going on in italy right now throw us a few curveballs we don't really need right now. >> or maybe our volume levels are down for good. >> could be. >> people just say that's the wave. >> the investors are certainly turning over their portfolios less than they were. they're moving into higher asset classes now. maybe we have to get used to a new normal on volumes. >> derivatives strong, divide that up pretty good in the yields. that can work for everybody. >> i think the strategy in the merger really is a divide and conquer strategy. stapling on our interest rate complex to their commodity and energy franchise. gives us more time to focus on the nyse assets here. so i'm exc
, give me some loving. apple's not even on the top 50 of citi's new global champions. >> really? >> apple's not even on the list. >> holy cow. >> but the question is, why should it be on the list? >> coach is on the list. >> nine times earnings. coach is on the list? >> should go buy coach. buy a man bag. >> man purse. >> are we saying that on the list, which i have here somewhere, that apple's not one of the best 50? >> best 50 what, though? >> listen, maybe that's the bottom. >> coach, cummins -- >> i like cummins. >> ebay. >> i like ebay. >> speaking of watches, you can get a fossil instead of a swatch. >> listen, man, fossil, i told you yesterday fossil is going to determine whether that apple watch is better than the google glasses. >> google's on the top 50 list. >> i believe that. >> i'm going to 1,001 right now. >> where is brian white? >> right. that almost -- i don't want to say it topped the stock. when you start to get the really far out there price targets on apple, that's when the cracks in the story started to really -- >> look, here's capital oil and gas. one of the best p
of america's biggest cities. siemens. answers. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome back. we're now in
on or the attempted hacking of banks. b of a and citi group and chase, everybody admits there's been attacks on them and deflections. but should we worry about our internal bank accounts we access online because of hackers? should that be a concern for the average checking account out there? >> for the most part, no. the banks actually of all the industries do probably the best job of protecting themselves. the attacks you've seen recently are something called ddos attacks which disrupt banks to carry on business. this is a serious escalation. it appears they're coming from a nation state that sponsors terror. that's one of the things we have to be looking forward about and doing a better job protecting ourselves. >> all right arthur coviello of rsa, thank you for your thoughts today. >>> as we continue, more on today's big selloff and why some say it may be about to get worse because of washington's dysfunction. as blunt automatic spending cuts are set for four days from now. we're back in a minute. if your tires need to be rotated, you have to get that done as well. jackie, tell me why somebody sh
york university. today's "wall street journal" questions the big bonus citi paid lew. sounds a lot like revolving door crony capitalism. that's right. back with us now is mike ozanian, steve mcmahon, and kay bailey hutchison. mike, i don't know this guy. i don't know. i don't know why nyu had to give him a special severance payment. he left voluntarily. i don't know why citigroup had to give him a bonus. he went to the federal government. the stipulation was if you go work for the federal government, we will guarantee you a bonus. not if you go work for the red cross or a non-profit. this sounds to me like crony capitalism revolving door. >> you know what? i have so much respect for tim geithner, that to me this seems like such a downgrade. it's very disturbing to me. it bothers me even more than the nomination of chuck hagel. it just seems like the president is totally disengaged. no one vetted this guy. it's just crony capitalism, as you said. and the president spoke so vehemently for so long that this was something he was going to put a stop to. >> that's a key point. he talked about
to roll out the first store in new york city. that's not for a while now. but more important they're spending big on the nordstrom website. nordstrom's is moving aggressively into mobile. last year, mobile accounted for a fifth of the total sales and it grew at a 31% clip last quarter. it can help the stock to continue to power higher in a world where everyone gets 3 and 4-g. the next gatsby component, how about ralph lauren -- maybe this isn't the best example. this is the premiere high end apparel brand. nothing says preppy like polo. they earned 240 a share. these companies are doing better even if their stocks aren't. and it gave very healthy guidance for 2013. this is what happens when you have a brand that's perceived to be on the high end of things. the money flows in because people cannot resist a little bit of conspeck shouse consumption. look at coach. they're a dog because they're widely perceived as having fallen behind on the style curve with the merchandise. i don't think ralph lauren will fall prey because they have staying power and they have some great merchants a
in the marketplace. add it that explosion at head quarters in mexico city, that's another factor that traders are launching. we haven't seen significant gains in the u.s. oil price because we have pipeline concerns that pipeline taking crews from oklahoma to texas coast. that probably won't be a full capacity until the fourth quarter. that is something that leaves still that glut of oil in the middle part of the country that is something that kept a lid on the rise in the u.s. oil price. in terms of precious metals, it has been a strong day for precious metals after the jobs data and that unploemt rate is what traders are watching. one reason they think precious metals. >> so what has happened to the individual investor over that time? jane wells is in los angeles. jane? >> hi, tyler. you think of americans as being resilient and optimistic. we found more than a few who said they survived the last few years by thinking of warren buffett. the view from main street when we come back. [ male announcer ] with citibank it's easy for jay to deposit checks from anywhere. [ wind howling ] easier than
in arizona and send that electricity to new york city, i don't think that was ever that realistic. but, what we're talking about is smart grid technology, in that with thousands or millions of sources of electricity all around the country, the i.t. that's going to be necessary to make that all work together is going to be pretty huge. >> david, thank you very much for coming in and explaining all this stuff to us. >> come on back. >> i could go on for aheil. >> we didn't talk about the tax credits and whether or not that's going to lay. >> who would have known that electricity could be interesting. >> thank you. >> thank you. >> when we come back -- >> blackberries every second it's very interesting. >> house majority leader eric cantor and his plan to give the republican party a message makeover. "squawk" will be right back. at 1:45, the aflac duck was brought in with multiple lacerations to the wing and a fractured beak. surgery was successful, but he will be in a cast until it is fully healed, possibly several months. so, if the duck isn't able to work, how will he pay for his living expe
that translates into consumer goods and at the top end luxury brands. china is building 221 new cities from now to 2025. so there is a huge demand for the basic kind of commodities that is building roads, bridges, highways, motor base and so on and so forth. so i think there is a market for some of the dmodties there. and that, of course, is the asian profile in the region as the company size, as the family size is dwindling. so that, again, translates to demand for health products, lifestyle products and so on. so i think there is a lot of the positive area to look forward to in the region. >> andrew, we've been talking a lot, of course, about currency today with the g-20, as well. will currency have a factor to play on m&a? i'm presuming if your country is strengthening or weakening, that changes the economics quite a lot. >> yeah, sure. as i was saying in the beginning, the whole world is printing money. so certain currencies are -- especially the japanese yen on a down turn. and then on the other hand, the renminbi, the chinese yen is gradually on the up trend. so you can play both ways. an
thought he was impeccable -- i mean. >> he was at citi for awhile. >> he was at sit ty for like two years or something. we're not talking about a lot of time. >> some of these things were when he was at the university and the questions are about what they paid him and it hasn't been -- >> there are different standards applied -- >> again you are shocked that in washington people take sides that they're on? >> it doesn't seem to bother anyone in the media, though, except for "the wall street journal." i don't see "the washington post" carping. i don't see your paper carping. >> i've read a lot of it. >> not "the new york times." >> "the washington post" has done some -- >> they have a great -- what's her name? she's great down there, rubin? i mean she's -- she stands out. >> but he's -- look, he's -- he was a career technocrat for the most part. >> i know. >> and with the exception -- >> these are your selling points for why he'd be a great -- >> look i'm not going to make you that argument. i'm going to make you the argument that the stuff at happened at citigroup is like a rare intermiss
a little bit more with tina ford, who is senior political analyst at citi. it's a shame we couldn't get the full information in. we've now got with the gridlock here, what is -- i know there are many options. what do you think is the most likely? is a fresh election more likely than us coupling together some kind of coalition? >> i don't think so. at least not yet. to address your question, the next government probably won't last its full five-year term. however, fresh -- >> what is the next government? >> well, we'll get to that. there's no mon date here for austerity. you have a fragmentation amongst political parties, cobbling together a coalition is going to be difficult. historically, a coalition takes three to four weeks and it's not likely to be any quicker with this result. we are looking in the short term in weeks and probably months of political uncertainty. we have presidential elections coming, too. but in terms of fresh elections, they can't happen as quickly as they did in greece where they happened a month later. >> bettrsani will be first up trying to form a government.
expected. what's it mean? joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot up sharply in the past few years. again, company and country specific because of the issues they've faced with the power. they've also faced social issues around
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